On Holding Launches CleanCloud Foam For Shoe Bottom Units

On Holding AG ONON has launched a new foam material, CleanCloud, made using carbon emissions as raw material, collaborating with LanzaTech and Borealis.
LanzaTech uses a combination of genetic engineering, artificial intelligence, and innovations in mechanical and chemical engineering to manufacture chemicals utilizing a process that soaks up carbon rather than emitting it.
CleanCloud will be used as a primary raw material for a shoe bottom unit, specifically EVA (ethylene vinyl acetate) foam, which could also be used in other shoe parts and products in the future.
On Holding expects to exchange all bottom units from On shoes currently made from EVA with CleanCloud.
Price Action: ONON shares closed lower by 2.13% at $37.63 on Thursday.